The plastic packaging goods turnover in Belgium demonstrated significant fluctuations from 2013 to 2023, with major peaks and troughs. Turnover peaked in 2016 with a 48.75% increase, followed by notable declines in 2017 and 2018. The market experienced its sharpest decline in 2020 by 22.94% but rebounded with a 36.73% increase in 2021. The average annual growth rate (CAGR) over the past five years ending in 2023 was 3.52%, reaching a turnover of 2.12 billion Euros in 2023.
Future forecasts indicate a steady increase in turnover, with a CAGR of 1.74% over the next five years, projecting the market to reach 2.36 billion Euros by 2028. This growth trajectory suggests cautious optimism in the industry.
Future trends to watch for:
- Increased focus on sustainable and recyclable materials in plastic packaging
- Technological innovations driving efficiency and cost-effectiveness
- Regulatory changes and their impact on industry practices
- Shifts in consumer preferences towards eco-friendly packaging solutions